Shares in the firm have fallen by a third since September over concerns the company may be losing its edge over increasingly confident competitors.

Shares currently stand at $460, down from over $700 four months ago. Apple still remains the world's most valuable company, however, just ahead of Exxon Mobil.

On Thursday, a number of brokers cut sharply their price target for the shares, with Deutsche Bank slashing its forecast from $800 to $575.

The iPhone's once dominant position is being challenged by Samsung and other makers of Android-based devices, which now make up a far greater percentage of overall smartphone sales than the iPhone.

Nokia, once itself the leading mobile phone manufacturer, reported on Thursday a return to profit in the final quarter of last year, with strong sales of its new Lumia smartphone, its first major product launch since the company teamed up with Microsoft.

'New products'

With Apple no longer seen as the market leader in innovation, some analysts believe it may now have to rethink its core strategy, which is based on focusing on a handful of premium products.

"Apple's modus operandi to date has been to cream the high-end off each market, but as the company's grown it may now need to target more of the mainstream," analysts at Evercore Partners said.